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Monday, October 1, 2018

United Nations told that cryptocurrency is "the inevitable future of money"...

The island of Malta is currently considered the most friendly nation in the world to cryptocurrency & blockchain based companies.  The government there has enacted regulations so attractive to the cryptocurrency industry that companies like Binance are now setting up shop there.

In an address to the United Nations, the prime minister of Malta Joseph Muscat told the assembly:

“Blockchain makes cryptocurrencies, the inevitable future of money, more transparent, since it helps filter good business from bad business.” he continues “But these distributed ledger technologies can do so much more.”

Malta's outreach to the cryptocurrency world has been such a boost for their economy, other nations are taking notice. Currently the island of Bermuda is set to give Malta some competition by passing new legislation hoping to draw in ICOs.

But some politicians in the US and UK governments are both following closely behind, realizing that companies leaving to relocate to nations that provide regulatory certainty could come back to bite them economically in the long run, now they're scrambling to catch up.

We covered what's being proposed in the US in hopes to keep blockchain companies here in an article last week.
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Author: Oliver Redding
Seattle News Desk